BeccaCarter BeccaCarter

01-02-2017
Mathematics

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A $500 investment earns 9% compounded semi-anually for 10 years. Calculate final value and show work.

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cjoanw2014 cjoanw2014

01-02-2017

$1205.86 is the answer
the equation is A= 500(1.045)^2(10)
the 1.045 comes from adding one to .09 (the percent) divided by 2

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